爱奇迹 × Oracle NetSuite 加速业务全球发展

Love Miracle Technology (Heaven Gifts Inc. HG) is a trading group company with Internet e-commerce as its core. It was established in 2007 and has branches in Shanghai, Shenzhen, Hong Kong, the United States, Ireland, and Germany. A professional B2B/B2C/B2B2C e-commerce team, after ten years of hard work, has become a team in the global e-cigarette field, committed to becoming a leader in the e-cigarette industry. As a giant in the global electronic vapor field, HG has joined hands with international first-line electronic vapor brands, as well as top-notch design, manufacturing and other supply chain resources to create a healthy, high-quality and stylish vapor life for mass consumers. The group owns the free brand Vapeonly, and stores in SMOK, iJoy, Vision, Geek vape, Eleaf, Joyetech and other global hot brands.

While developing rapidly, HG is also facing more corporate management challenges. With more and more branches around the world, product types are becoming more complex, and business is increasing day by day. Because businesses, resources, and personnel are distributed all over the world, it is difficult to share data and information effectively and in a timely manner. The existing IT architecture can no longer support enterprise development.

HG needed a fast-online system to meet complex and comprehensive requirements. After careful consideration, it finally chose Oracle NetSuite and signed a cooperation agreement with Hitpoint. Oracle NetSuite provides a complete set of global ERP cloud solutions. The lightweight and flexible platform is in line with HG's strategy of rapidly occupying the market worldwide.

Pain points and challenges encountered:
1. There are branch companies all over the world, and local companies complete sales, logistics, warehousing, logistics, and carry out B2B and B2C businesses. The existing IT architecture can no longer support.
2. Multi-molecule companies need to conduct group integration and regularly output consolidated statements, financial reports, and management reports. The current information system cannot output relevant reports in a timely, accurate and efficient manner, report, declare tax and comply with legal compliance requirements for auditing.
3. The group company has inter-organizational supply and marketing business, and pricing and transactions cannot be automated, which takes up too much labor costs.
4. It is a huge challenge to meet the financial, taxation, compliance, and language needs of many countries around the world.

The first phase of the project completed the business launch and system replacement of multi-molecule companies in Hong Kong, Shenzhen, the United States, and the United Kingdom in a very short period of time (within 5 months), and built a complete ERP information technology framework with business and financial integration and separation of middle and back offices to ensure that Fast replication in many subsequent countries will satisfy local business and global control.

The successful implementation of the second phase of the project further optimizes the company's business, such as automatic inter-company allocation, transfer pricing, automatic tariff and freight calculation and other business requirements.

project outcome:
1. Based on the Oracle NetSuite platform and guided by industry practices, it realizes the integrated application of sales, procurement, inventory, and finance, and comprehensively improves operational efficiency and information transparency.
2. To adapt to future application extensions, construct global application templates, formulate unified master data (finance, commodities, etc.), standardize business process application systems, and make necessary preparations for future global applications.
3. Based on the Oracle NetSuite localization data package, combined with the accumulation of Hitpoint globalization knowledge, the Chinese localization plan can be implemented quickly and accurately.
4. Business-driven finance, timely and accurate issuance of various financial statements; financial feedback business, financial team management and control of the business, to ensure business compliance and rapid iteration.

Tips：Oracle NetSuite

Customers

HG x Oracle NetSuite accelerates global business growth